How do I remove personal credit card expenses incorrectly showing on my business P&L (card is unlinked)?
I’m using QuickBooks Online for my business. Earlier in 2025, I mistakenly categorized personal credit card expenses (from a personal card) as business expenses, so they are now appearing on my business Profit & Loss. Important details: • The credit card was personal, not a business card • The card has since been unlinked from QuickBooks • The expenses are real transactions but should not be on the business P&L • I want them reflected as owner/shareholder activity (equity), not expenses • Deleting or excluding transactions is not an option (I want to preserve audit trail) What is the correct QuickBooks-approved way to remove these personal expenses from the P&L and reclassify them to Equity (Shareholder Distributions) now that the card is no longer linked? Is a summary journal entry the proper solution in this case, or is there another recommended method?